In a report released today, Alex Henderson from Needham assigned a Buy rating to Proofpoint (PFPT), with a price target of $150.00. The company’s shares closed last Thursday at $125.27.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 21.3% and a 61.6% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Forescout Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Proofpoint with a $146.27 average price target, which is a 18.0% upside from current levels. In a report issued on July 21, RBC Capital also maintained a Buy rating on the stock with a $146.00 price target.
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The company has a one-year high of $133.58 and a one-year low of $83.81. Currently, Proofpoint has an average volume of 694.5K.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFPT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Proofpoint, Inc. is a cybersecurity company. It engages in the provision of cloud-based solutions. The firm’s security and compliance platform comprises of an integrated suite of threat protection, information protection, and brand protection solutions. Its solutions also includes email protection, advanced threat protection, email authentication, data loss prevention, SaaS application protection, response orchestration and automation, digital risk, web browser isolation, email encryption, archiving, eDiscovery, supervision, secure communication, phishing simulation and security awareness computer-based training. The company was founded by Eric Hahn in May 2002 and is headquartered in Sunnyvale, CA.
